Flutter Entertainment plc (FLUT) Stock Price & How to Invest

Flutter Entertainment (FLUT) is one of the world's largest online sports-betting and iGaming companies, best known in the United States for FanDuel, the leading US online sportsbook by market share. The company operates a portfolio of well-known betting and gaming brands across many countries, including Paddy Power and Sky Bet in the UK and Ireland, Sportsbet in Australia, PokerStars globally, and Betfair, and it has added Snai in Italy and NSX in Brazil through acquisitions. Flutter makes money from customers placing sports wagers and playing online casino games, so its results are driven by the number of active players, how much they bet, and how favorably sporting results fall (its win margin). FanDuel and the fast-growing US market are the central story, layered on top of large, more established international operations that provide scale and cash flow. Flutter moved its primary stock listing to the New York Stock Exchange in 2024 to be closer to its largest growth market. The business is exposed to the long-term shift of betting and gaming from retail shops to online and mobile, but it is also heavily shaped by regulation and taxes, which vary by state and country and can change. Headquartered in Dublin with major US operations, Flutter has long been viewed as a scaled, market-leading way to invest in the growth of legal online sports betting and iGaming.

2026 has been a hard year for the stock. Revenue keeps growing (about $17.2 billion over the last twelve months, with the second quarter up about 3% year over year at $4.33 billion), but reported profit has not followed: Flutter posted a net loss of about $274 million in the second quarter and about $754 million over the trailing twelve months, and adjusted EPS of $0.49 missed the $0.55 consensus. Rothschild & Co Redburn counted four consecutive guidance cuts when it moved to Neutral in October, and several brokers (Wells Fargo, JPMorgan, Bernstein) cut targets citing weaker hold rates, heavier promotion, regulatory uncertainty, and pressure from prediction markets such as Kalshi and Polymarket. The share price, which hit about $255 within the past year, closed at $75.85 on October 16, 2026.

Flutter's business is heavily dependent on regulation and taxes, which differ by state and country and can change against it. Higher betting taxes, new levies, advertising restrictions, or slower state-by-state legalization can directly reduce revenue and margins, and several jurisdictions have raised or proposed raising gaming taxes. Results also swing with sporting outcomes: an unfavorable run of results lowers the company's win margin in a given quarter, and weaker hold rates were one reason for 2026 target cuts. The US market is intensely competitive and promotional, with DraftKings, Fanatics, and now prediction-market platforms spending heavily to win customers. Repeated guidance cuts have damaged credibility, and the balance sheet carries about $12.6 billion of debt against about $1.6 billion of cash, with negative free cash flow (about -$990 million) over the last twelve months. Consensus expects third-quarter EPS of only about $0.29. The industry faces responsible-gambling scrutiny and reputational risk, and betting activity can soften in downturns. The stock is volatile; it is not a defensive or income holding.

32 analysts publish price targets on FLUT, averaging $132.56 against a $75.60 price as of October 2026, or +75.3%. The published targets run from $85.00 to $360.00, a wide spread, and the ratings split 23 buy, 9 hold, 1 sell. Over the last six months there have been 0 raises and 10 cuts among the published actions. A price target is what an analyst published on a date, not a prediction, and sell-side ratings skew positive across the whole market.

Read the full FLUT forecast and price target for the target table, the recent rating actions by firm, and how the consensus has shifted.

We give no verdict on Flutter Entertainment plc. Both cases are real, which is why the question is contested at all, so here is the strongest version of each.

The case for buying. FanDuel and US online betting leadership. FanDuel is the largest US online sportsbook by market share and a major US iGaming operator. The most optimistic published target, $360.00, assumes this works close to its best case.

The case against. Flutter's business is heavily dependent on regulation and taxes, which differ by state and country and can change against it. The most pessimistic target, $85.00, is roughly what FLUT is worth if this bites instead.

Read the full bull and bear case on FLUT, including what would have to change to break either one. Walnut is not an investment adviser.

No. Flutter Entertainment plc (FLUT) has not split its stock in the last 10 years. That is a statement about the window we check rather than about the company’s entire history, so an older split is possible. It also matters less than it once did: fractional shares mean a high price per share no longer keeps smaller investors out, which removed most of the practical reason to split.

A simple financial snapshot. These are approximations and refresh quarterly; for current figures see Flutter Entertainment plc's investor relations page or your broker.

• Revenue (TTM): ~$17.2 billion (Q2 2026 up ~3% yoy)
• Operating margin: ~-3% (gross margin ~42%)
• Net income (TTM): ~-$754 million
• P/E (trailing / forward): n/a (loss) / ~11x
• Price to sales: ~0.8x
• Market cap: ~$13 billion
• Dividend: None; does not pay a regular dividend
• Debt / cash: ~$12.6 billion / ~$1.6 billion

After a roughly 65% fall in 2026, Flutter trades near 0.8 times sales and about 11 times forward earnings, a valuation that prices in lower US profitability, higher taxes, and prediction-market competition. The 32 covering analysts still have a mean target near $133, far above the $75.85 close, but targets have been cut repeatedly; the November 4 report (consensus EPS $0.29 on about $4.0 billion of revenue) is the next test.

Other names that sit close to FLUT: same theme, named as a direct competitor, or held beside it in the same funds. Each entry says which. Worth a look if you are thinking about diversification within a thesis rather than concentration on one ticker.

There are three common ways to get FLUT exposure. Buy shares (or fractional shares) directly at any major broker. Hold an ETF that includes it, which spreads the position across many companies. Or build it into a focused thematic portfolio, so FLUT sits alongside other stocks that express the same thesis.

Walnut takes the portfolio route. Describe a thesis where FLUT fits (for example “AI infrastructure” or “dividend-growth large-caps”) and the AI proposes 5 to 6 constituents with target weights. You review the plan and fund it through your own broker when you're ready.

New to this? Start with how to invest in stocks, see how to analyze a stock with AI, or compare the best AI stock analyzers.

Flutter Entertainment (FLUT) is a global leader in online sports betting and iGaming, anchored in the US by FanDuel, the top US online sportsbook, plus international brands like Paddy Power, Sky Bet, and Sportsbet. It offers scaled exposure to the shift of betting and gaming to online and mobile, but its profits swing with betting volumes, sporting results, and a regulatory and tax backdrop that can change state by state. After repeated guidance cuts in 2025-2026 and the arrival of prediction markets as a rival for US bettors, the share price has dropped by about two-thirds this year, and the company carries about $12.6 billion of debt. In a portfolio it behaves as a volatile, growth-oriented consumer bet on legal online gaming, not a defensive holding. Third-quarter results are due November 4, 2026.

Whether FLUT is worth buying today depends more on your time horizon and what you already hold than on any single call. We walk through valuation, what would have to go right, and the risks in is FLUT a buy or a sell?, and where the stock could go from here in the FLUT stock forecast.

For income investors, whether FLUT pays a dividend and how the payout looks is covered in does FLUT pay a dividend? And to weigh FLUT against a peer, read the full side-by-side comparisons: FLUT vs DKNG and FLUT vs CZR.